Evidence supports the notion that those who grow up to be patient do better than those who do not. Parents can inculcate the virtue of delayed gratification in their children by taking the right actions. We study a model in which parents, for selfish reasons, invest resources to raise patient children. In the model, patience raises the marginal return to human capital acquisition giving the patient young an incentive to spend more on their own education at the expense of investment in their own progeny’s patience. This dynamic generates intergenerational patience cycles.
|Date of creation:||24 Aug 2012|
|Date of revision:|
|Contact details of provider:|| Web page: http://www.lebow.drexel.edu/|
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Doepke, Matthias & Zilibotti, Fabrizio, 2007.
"Occupational Choice and the Spirit of Capitalism,"
IZA Discussion Papers
2949, Institute for the Study of Labor (IZA).
- Matthias Doepke, . "Occupational Choice and the Spirit of Capitalism," UCLA Economics Online Papers 419, UCLA Department of Economics.
- Matthias Doepke & Fabrizio Zilibotti, 2007. "Occupational Choice and the Spirit of Capitalism," SFB 649 Discussion Papers SFB649DP2007-049, Sonderforschungsbereich 649, Humboldt University, Berlin, Germany.
- Matthias Doepke & Fabrizio Zilibotti, 2007. "Occupational choice and the spirit of capitalism," IEW - Working Papers 326, Institute for Empirical Research in Economics - University of Zurich.
- Matthias Doepke & Fabrizio Zilibotti, 2007. "Occupational Choice and the Spirit of Capitalism," NBER Working Papers 12917, National Bureau of Economic Research, Inc.
- Doepke, Matthias & Zilibotti, Fabrizio, 2007. "Occupational Choice and the Spirit of Capitalism," CEPR Discussion Papers 6405, C.E.P.R. Discussion Papers.
- Bisin, Alberto & Verdier, Thierry, 2001.
"The Economics of Cultural Transmission and the Dynamics of Preferences,"
Journal of Economic Theory,
Elsevier, vol. 97(2), pages 298-319, April.
- Bisin, A. & Verdier, T., 1997. "The Economics of Cultural Transmission and the Dynamics of Preferences," DELTA Working Papers 97-03, DELTA (Ecole normale supérieure).
- George J. Borjas, 1992.
"The Intergenerational Mobility of Immigrants,"
NBER Working Papers
3972, National Bureau of Economic Research, Inc.
- Akabayashi, Hideo, 2006. "An equilibrium model of child maltreatment," Journal of Economic Dynamics and Control, Elsevier, vol. 30(6), pages 993-1025, June.
- Vipul Bhatt & Masao Ogaki, 2012. "Tough Love And Intergenerational Altruism," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 53(3), pages 791-814, 08.
- Becker, Gary S & Mulligan, Casey B, 1997. "The Endogenous Determination of Time Preference," The Quarterly Journal of Economics, MIT Press, vol. 112(3), pages 729-58, August.
- Carliner, Geoffrey, 1980. "Wages, Earnings and Hours of First, Second, and Third Generation American Males," Economic Inquiry, Western Economic Association International, vol. 18(1), pages 87-102, January.
When requesting a correction, please mention this item's handle: RePEc:ris:drxlwp:2012_007. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Richard C. Barnett)
If references are entirely missing, you can add them using this form.